desk." the powder room is taking extravagance to new heights with a 500-dollar booze milk shakin' concluding belgian chocolate and edible gold. liz: mine was 2.50. it was pretty good. david: no gold in it. >> everyone is still pretty upset about this obamacare website. it has got all these glitches and nobody is signing up. they are so desperate to turn this thing around that the department of health and human services e-mailed 275,000 americans encouraging them to give the obamacare website another try. then they said but one at a time. so we don't want -- melissa: obviously obamacare at the top of the agenda again today. it looks like we all may be able to keep existing health plans after all but what is the cost of that now? we start off by crunching the numbers for you because even when they say it's not, it is always about money.

>> the bottom line is insurers can extend current plans that would otherwise be canceled into 2014 and americans whose plans have been canceled can choose to reenroll in the same kind of plan. >> hmmm. so, if you like your plan you can keep your plan, at least for another year. president obama announcing the big health care fix that will let insurance companies continue canceled plans through 2014. it is going to cost more money somewhere. could be coming from you. i bet it is coming from you. here to crunch numbers, former cbo director doug holtz-eakin. everyone will argue about the politics of this. this show is called "money." i want to drill down on numbers, what this really means, what it is going to cost. the first question i had after i heard the statement, you can keep your plan at the same cost? >> we don't know. that is the very first question

you should ask, and, if people who would have normally would be not okay insurance policies, if they have them keep them for the year most likely will be folks who want a cheap plan, who are young invincible, young and healthy and if they stay on these plans, well they're not going to show up in exchanges. that mains the exchange policies will be much more expensive in the future. so there is no clear winner here. there is no doubt about that. melissa: no, and there's a lot of questions raised by this. you brought up a point immediately. there were a lot of insurers out there that were skeptical and said, changing the rules after health plans have already met the requirements of law could destablize the market and result in higher premiums for consumers. is that what you meant? if people keep the very cheap plans and don't go to the exchange everyone else's prices go up or how do you see it resulting in higher premiums? >> certainly will be more expensive in the exchanges. if nothing else there is costs of running exchanges to get, belong to the people that buy

their insurance there. if there aren't many people in the exchanges they will pay more. it's a bad news story there, no doubt about it. i think the key question here is really, how many people will be affected? we know that there have been independent is its of five million people who might have their policies canceled. we have done work that suggests could be as much as nine. melissa: yeah. >> how many get another shot? well to get another shot you have to find an insurer willing to extend the plan and then in the six weeks we have until january 1st, you have to take the one year normal regulatory process and do it. so you're allowed to offer that plan. melissa: yeah. >> i don't think this will be much relief in the end. >> i always think immediately that there's a group of people that say, wait a second, that's not fair, what about me? those people we have to look at when something like this happens. that is not fair, what about me? how bull people who would like to buy a plan, that is, as low maintenance as these, the healthy people. they didn't have it before to be canceled but instead they're going to have to hop into the exchange and buy a plan that is

way more expensive, even though they wanted this other one? that group of people will get crazy now, right? >> they, they're going to be hurt badly. if you're uninsured and didn't get canceled, didn't have it, you have to go on exchanges. take a 30-year-old male who doesn't smoke, the difference between what you get out in the private market right now and exchanges is about 260% on average. melissa: wow. >> as high as 600% in vermont. for women it is not much better. it is 190%. we always thought of that as sticker shock for people who had to give up the plans. the president basically said well, we'll try to avoid that but there is a group that will get hit and hit very hard. melissa: the group you're talking about the 30-year-old man who doesn't want to pay 260% more. i don't need maternity care and pediatric den industry. >> right. melissa: the other group are folks receiving subsidies? the group qualifying behind them. that is the next group we hear

rumblings from, the people who barely don't qualify for subsidies, do you see that getting expanded and what does that cost us? >> there are two groups i worried about. you described one. they're very close in income. one gets subsidies, the other doesn't. there is always pressure to expand subsidies. think about it this way, i work for an employer who offers insurance. i don't get a subsidy. you work for an employer who doesn't, you get a subsidy we're otherwise the same. we sit down and talking why do i money and you don't? you get into a big disagreement and that can get very expensive. melissa: drilling down on numbers you wonder if you get the plan back will it be for the same price? i also wonder, if they get that plan back, it doesn't count as one of the qualified plans under obamacare. so do they get the penalty or the tax or whatever it es we're calling it? do they have to pay the penalty for not having a plan that qualifies? >> this is a good question because this is no longer hypothetical. i in fact got one of those

notices, people at my think tank and i don't know the answer to that. i presume from the president's announcement today, because he is doing this suspending enforcement, that means i might technically be responsible for the penalty they're not going to enforce it and that is how they're doing this but i can't say that the press conference left this crystal clear. indeed, we saw today, people like the national association of insurers put out statements say we're not clear how this is going to work. we're looking forward to hearing details. melissa: looking forward to hearing the details as always. you know, i would like to be happy for those 4.8 million americans who already had their plan canceled who are very upset and now they think they can get it back. i worry it is not as simple as all that. that is why we wanted to crunch numbers. doug holtz-eakin thank you very much. >> thank you, melissa. melissa: up next, "the new york times" implies children's of elected officials have unfair advantage in the work place. yeah, maybe so. does that mean connected kids like chelsea clinton are

automatically unqualified for their jobs? we have a big debate on this brewing. yahoo!'s ceo marisa mayer under attack for another controversial business tactic. ranking employees, you love it or hate it. a bell curve at your office. where would you fall? tweet me and tell me what you think about this? it is today's money talker. more "money" coming up.

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melissa: bribery or business as usual? that is the big question today. "the new york times" putting out a piece painting the picture it's a bad thing that jpmorgan hired the daughter of china's former prime minister. what is wrong with hiring someone who has "political connection"s? it is creating a lot of controversy. here to debate both sides, fox news's dennis kneale. dennis, let me start with you, to me i read they had win jaboa's daughter on retainer. i thought in china sound like a good idea. >> feds in u.s. apparently have nickers in a twist about this and investigating a year or two.

in a story i said the investigation could go on for several more years. they pick out the daughter after big chinese official. they pay her $1.8 million over a few years this is bank with trillion dollars in assets. this is tiniest part of the business. i don't understand why the feds are bothering with this i don't care if jpmorgan wanted to hire a politically connected person in china. if you're a shareholder jpmorgan you want them to be in china. you're probably glad they did a hire like that. melissa: i guess. derek, it is not how much of a percentage worth based on how much money they have, how do we know she didn't provide the service they paid for. >> why do we care? melissa: derek, wait. >> i disagree jpmorgan shareholders should be happy. this is normal practice, i agree with dennis on that. but jpmorgan is setting itself up for chinese corporate investigations and pick out foreigners doing what chinese companies do and make example. this is a corrupt system in

china. which is not what they want. they want a system from ours. they're pulling china away from the outcome. i think jpmorgan is being unwise in the short term and long term. melissa: dennis, those are compelling arguments. i think derek is looking at wrong end of the telescope. this is story not focused on what china officials want to do on jpmorgan. this is story what u.s. federal investigators do against jpmorgan because they don't like the idea jpmorgan would hire someone a relative after chinas official. the problem they shea this would be a bribe. there is this 1977 law, foreign corrupt practices act. it was passed in wake of allegation that is u.s. companies had taken out hits on heads of state, had them assassinated. we wanted to rein that in. great idea. but now we're using to it go after hiring of some chinese official? we're using it to go after walmart paying $24 million in bribes over five years to mexico building inspectors? eight of the 10 largest bribes paid out, fines paid by companies in the, since the law passed are all in the obama era. this is just morphinger wagging at business.

melissa: derek, smoking gun sentence that the no, times up with, it points to a broader strategy for accumulating influence in china, to put the relatives of nation's ruling elite on the payroll. immediately i thought, well, so does that mean chelsea clinton isn't allowed to have a job here? i can't think of anyone who is more the child of ruling elite than chelsea clinton. she went to work for avenue capital here in new york. does that mean that avenue capital was trying to buy influence virtue of hiring her? was she not allowed to have a job anywhere? >> well i take, we shouldn't be telling people, you can't hire someone. what i would say on the avenue capital side for chelsea clinton or, you know, somebody who is hired because of the son of a republican representative, you're takeing a risk in today's environment that there is going to be an investigation. if you think you're going to get benefits from the u.s. government because you hired someone like that you're probably going to get the opposite party controlling house or both houses of congress coming after you. that is the corporate side. the government side is, fine,

let someone hire chelsea clinton. hire family members of members of congress but if we start having government programs that go their way, then, we're going to have a problem with government programs come up that are not justified, not good for the people, only good for the families of government administration officials. >> logical extension of first thing you said. if it is about don't hire this person, even if you don't think it's a bribe it looks like the wrong thing and you will attract attention to yourself. why would anyone go into government then? if you're immediately damning your children forever to never get a job because it might look bad, it is just one more reason to not go into government. dennis, is that fair? >> no it is entirely not fair. i have a bigger question for you. why is the u.s. government, the justice department, worried about this at all? why is this not a china, local official investigation on whether an outside bank from another country came in and bribed its own people? why is our justice department even looking at such small beer?

melissa: go ahead. derek, you want to respond to that? >> sure. i mean, i partly agree which is, that this is normal practice in china and picking out jpmorgan and acting like we need a four-year investigation of this as p we never heard of it before is strange. i will say, china is very corrupt place. very big economy. important to a lot of american firms. getting in bed with all corruption there that's a risk. we don't want our corporations doing that. is this- is that a danger? yes. >> here's the thing. what government here is looking at did jpmorgan break the rules by golly we have seven investigations of them and we'll go after them again. i have a bigger question. did someone get hurt because jpmorgan hired some relative of a chinese official? where is the damage? when we go after walmart in a big investigation for $24 million in bribes, like 24 cents on $10,000. walmart does a trillion dollars in business over last five years. who got hurt pause some mexican

building inspector allowed a walmart store to open earlier and sell stuff at cheap prices to the poor? why are we going after walmart? melissa: derek, who is the victim in this? >> let's take the walmart example. melissa: no, i want to know who is the victimtim in the jip thing? >> victim in the jpmorgan be the victim in the jpmorgan case? melissa: uh-huh. >> the victim is the company is trying to compete fairly with jpmorgan. the idea here -- >> we're protecting companies now. >> we have fair competition, not competition decided by access. >> so the feds are out there to protect one company from another company rather than trying to protect the people from illegal goingings on? you see the fed are intervening in everything and trying to make sure companies don't hurt each other. you let the companies take care of themselves. melissa: derek, last word, real quick? >> fair competition is a reasonable job for the government and i think dennis is exaggerating the case there. i do agree women had that the feds get carried away and acting like this jpmorgan case is big deal is probably wrong.

melissa: we'll leave it there, guys. thank you. very lively. we all get reviewed at work but what if your boss ranked you and your colleagues and fired those at the bottom of the curve? it is yahoo! newest way to lead out low performers and it is not surprisingly, a money talker panel of the day. we're all hot and bothered about this one. today is part two of our real estate titans talk. we have the biggest around the best. what is threatening market right now, whether discount brokers really save you money. don't move. more "money" straight ahead. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps

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melissa: as if performance reviews weren't nerve-wracking enough, can you imagine directly competing with your coworkers to avoid getting fired?

that is exactly what is happening at yahoo! celebrated ceo marisa mayer reportedly start ad new system that forces managers to grade on a bell curve. they have to give subpar rankings to a fixed percentage of their employees, no matter what. if you wind up on the wrong side of the curve too many times, you're gone. it is today's money talker. here with me imogen lloyd webber, steve olsher, and tyler abernathy. sounds barbaric, apparently 30% of companies do this. i was not aware the number was that high. 30% of fortune 500 companies do this. it makes sense, have to lay off 5% of your workforce during any period of time, don't you want to know who are the least effective workers? you're horrified! >> i can see you in finance, i sort of get that, any industry with little creativity, how? ge came up with the idea, they stopped using it now. microsoft stopped using it.

expedia, stopped using it because they want to rehumanize relationship between management and workers. melissa: if you have a creative business, you know who the strong players are, who the average guys are and weak guys are. >> really what is the problem here? because the reality all you're going to do, you will cause more pier resentment than less. you're throwing everybody in teams, right? our team, what are you going to do? you're going to be a slacker. you will end up slacker. everybody is slacking, why should he get the same compensation with me. what is the problem. melissa: what do you think? >> total collaboration killer. i work in a tech startup. we're a small team. work closely together. throw job descriptions out the window. everyone is doing everything. to implement something like that -- melissa: everyone is doing everything. i don't know a single work place, let's be honest where everyone is doing everything. there is always the person on your team -- >> results come from leadership. >> results come from leadership, tom down, period. get collaborative environment.

whole pa rael sis thing going where nobody does anything. melissa: are you guys paralyzeed? >> there is always office brown noser, chummy with the boss not doing the work. what happens if the boss starts playing favorites? "hunger games" at office doesn't work. "hunger games" in the movie theater absolutely. "hunger games" in the office, no. >> reported original guidelines for yahoo! ranking system, greatly exceeds the group. 10%. achieves, 25%. achieves, that is the fat meaty part of the curve, right in the middle, 50%. occasionally miss, 10%. misses 5%. you have a good opportunity there, to be in the top, you know, 3/5 of those rankings? >> look, melissa, you always want to be look forge your weakest talent. melissa: yeah. >> cultivating them, improving them or replacing them. melissa: yes. >> but to actually lump people in the category saying we have to have 20% of our workforce, or 10% be in the bottom category that is ridiculous. >> that is coordinated hole. that is what you're looking at.

you have all the fragmentation going on. figure out what is your what, that is the plan. discover the one amazing thing. melissa: almost like you came on here to promote a book. >> is this a book? >> obsessed with costly reviews or thinking in the short-term and not long term which is bad for the company, also interesting here, this is pr fail for marisa mayer. we can all understand why she was bringing people back from working at home into the office to brainstorm. i get that. >> you're not allowed to work from home. that was the lasker gulf. >> how can you have a bank storming office, collaborative office when knives are out all the time? it doesn't morning. this is counter productive. >> marisa mayer, needs a strong head of human resources to rein her in. she is brilliant ceo. melissa: 30% of the fortune 500 companies are doing this, she is hardly alone. >> look at microsoft. >> letting somebody figure out that it what was going on and putting it out there. >> microsoft just, they had the same approach.

they took it back. they're, trying to implement more collaborative -- >> bringing it back in. i'll tell you why. ultimately, you need to be, you have to rally around something as a coordinated whole what i'm saying. >> some sort of a measure? some sort of standard. >> what was the old slogan? a computer on every desktop. now what is microsoft's slogan? we'll do whatever we want. i don't know. what do you want to do? does that work. melissa: not going to work. i do have to say i worked at a place, a manager said to me, you know she is doing, that i love that you don't do? as someone tightly wound, i was sort of twitching, that environment where you pit the employees against each other. it makes a lot of sabotage and not a lost hard work. maybe trying to collaborate all the time i don't know if i believe that is even possible. if you create an environment where people know they are literally crawling over their coworkers, on a daily basis to make sure that when we miss the numbers at the end of the quarter, they're not ones that get swept out the door it does

create kind of a environment. >> what microsoft is doing, putting team against team as opposed to peer against peer. they nixed the curve. melissa: is that better? >> exactly. i say no. >> it is in a sense that you can have great people in a team. there is a loser in that team. i think it does work. >> inner company, competition but not intracompany competition. you want to foster a team environment within your organization. melissa: isn't it fairest way though? you know there are cutbacks coming. somebody says, in this past recession, we have to let 10% of the workforce go, you have to know who your weakest 10 are. if you don't cut the weakest 10, and you cut strong people, it destroys the morale of everybody. >> just like in the personal life. just like in your personal life. you have people that bring you down. they have got to go! you have people who help you to soar! those are people you want to surround yourself w if you're not performing my man, you got to go. melissa: imogen is horrified.

>> i am horrified. melissa: thanks, guys. up next, more tips from real estate titans. we have the biggest threat to the market how you overcome it, from the top tier of the business. i don't want to miss this one. "who made money today." people may have been doubtful but so far he has had a great run and money keeps flying in. keep watching to find out who it is. "piles of money" coming right up. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ but with less energy, moodiness, and a low sex drive,y first.s. i saw my doctor.

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melissa: high end renovations a lecture realistic listings upheld, no one knows them better than a group of real-estate moguls assembled right here. you may not realize, the biggest head when threatening the lives of real estate right now, but we will hear how these guys are overcoming them. joining me now, ceo of corcoran group and developers michael rubin and michael stern. thank you for joining us. dan, let me start with you.

one of the big things that we are reading about right now in real estate is the discount brokers. they just announced that they raised $50 million. it is all about this discount broker or brokers cut in their commission. how do you battle back against that? >> i think the way we battled back is that we offer a higher level of service, and i think for the discount brokers there is room in the market for everybody, but it is harder to get the real talent to work for a discount. when it comes down to it, it is all about the agent that is representing you, either as a buyer or seller. melissa: how do you drive that point? it is about how much money at stake, after i saw my place. maybe if i get somebody else there will sell it for a lower price, but if the commission is lower and that more money. >> really? melissa: i don't believe that. and to sing the for argument. >> that is our job, to sell a value proposition. the best agents out there, believe they had something to that transaction. the discount brokers do not

necessarily bring the best modest the table. melissa: a lot less. you have a phenomenal huge high-rise. it is the main drag here. but get that. it's a glass building in the center. a lot of products to bring on line all once at a very high price. to you think the market can't absorb it? they're people aboard about this? >> first of all, i think there's a misconception about a lot of these many enormous buildings to be they don't have that many tv incident. example, the main tower only has 45 units. the pipeline a lot of barriers to entry, a bill in the scale in new york. there really is not much product and all. melissa: top dollar, are you looking for $6,000 a square

foot? coming, big number. is that getting credit? >> the upper echelons of the market, more players than they used to be. as i said, still very much a supply constrained market. >> do you think you will be able to sell the seven high price? will you be nice to him because he is right next you? >> i will be nice to him because i definitely think we're going to sell it. i think he has a unique project and is coming to market the right time. michael has a great success with his past project. he knows what the market wants and that think what he's going to deliver here will be exciting and of toward well. melissa: a unique proposition. the whole city is talking about this. another property everyone is talking about is your property. greenwich lane. it replaced st. vincent's hospital. that was a tough project. greenwich village, a lot of people around the country can

relate. a very tight-knit community. burial school. they like things older and crumbly air. where do you command and knocked down on hospital and the bill the very expensive larger unit. if i am a neighbor of that place an uptick in happy about it. >> it's been a long process. we have been working on the project for over seven years and just started selling the head. the last seven years we have gone through a lot of different hurdles. we went through to bankruptcy's with the hospital. we went through the reservation commission which took us two years. it went through a rezoning process. melissa: did that cost you more money than you thought?

that campus we take position. so do to their second bankruptcy , our time line was accelerated by at least three years. what that additional cost was a was not. we're happy with where we are now because the market is so hot. melissa: let me pick up on that theme. the market is hot right now. that has people nervous. you know, is this a bubble? what worries you. it's not just talk. steep, and that is what is good about it. buyers are coming from all walks of life in all parts of the world. so what i am worried about today is that we don't have enough inventory to satisfy these buyers. what i am worried about a couple of years is when all this new inventory comes on will the

buyer still be there? and as a product that is coming on is so expensive the talk about 6,000, 7,000 tomatoes and dollars a foot, will resell to the regular people? is too expensive for the developers to acquire land we want to offer things to all people. how that becomes a bigger part. melissa: it is not your job. >> we want people to come to new york no matter what income level or size apartment were priced apartment they can afford. the combination of land and construction makes it impossible to build rental housing.

was the way the next administration goes. we have been told as the development community did we get a trader of market great density for the creation of affordable housing. everyone is going to wait and see. melissa: good luck with your continued success. thanks to all three of you. up next, our second installment of to pool for school. one group of penn state undergraduates' successful in managing millions of dollars. what is the secret? at the end of the day it is always about "money." ♪ my customers can shop around. but it doesn't usually work that way with health care. with unitedhealthcare, i get information on quality rated doctors, treatment options and cost estimates, so we can ke better health decisions. that's health in numbers. unitedhealthcare.

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just by talking to a helmet. it grabbed the patient's record before we even picked himp. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and adiums. but, of course, 's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. ♪ melissa: to cool for school part two. our new series as we head to college campuses across the nation to pick the brains of some of the youngest fund managers from coast to coast. tonight in state university.

more than $6 million the leaders are here now. thanks to all of you for joining us. let's get right into it here. year to date you geyser of 22% which is pretty good, although the s&p is up 25%. you have made "money" since the inception. what is your favorite holding right now? >> definitely noble energy. it is focused both at home and the u.s. and also abroad. melissa: would you add to that position? >> i think so. actually looking to diversify our plays a little more. we're looking to diversify into the other place that is supportive. melissa: like what? would you diversify? >> sure. right now we have a very big stake in allen burden. we move into them over the

summer because of the exposure to domestic fracking. that is going to be a great holding in has been so far. melissa: you picked up on a big thing that i love, the new york times just give a huge article on robotics. everyone is getting into how robots are going to replace a lot of the workforce. what is the ploy? >> i like the company in the health care space. they have had a rough 12 months, some problems with the safety of the robots, but there are a good turnaround story and going for the continued high growth in the general surgery business. a very good holding going forward. melissa: would you add to that position? word you think is just to get expensive? >> obviously it's an expensive stock. just in general it is run of. going forward if i was going to pull the investment i would wait it out and see how things head with the recent news. then i will add on if things

turned out okay. melissa: you like one of the stocks, our favorite topic here on "money," tesla. this is a company that has been absolutely on fire, hit bumps as of late. and a lot of people think it is way overvalued. would you had to the stock? >> i like is some much i just bought some today. i think it is a great opportunity to get in and abettors price. with the tray down over earnings you're getting in and away better valuation further away from 200. and i think ultimately it's actually much safer to drive in terms of virus, five times safer . melissa: what would you stay away from? what stocks do you not like? >> i think a lot of the overvalued stocks are going to come from at least specifically within the energy sector within your major integrated companies. assets, especially the domestically and abroad become harder to purchase.

the cost of pulling oil out of the ground will dramatically increase which is why strictly for a portfolio we like diversifying into your services, pipelines, and they will derive more value, less so from the asset purchases of land. melissa: and they are both going to work for goldman when new data school. anyone give you a hard time about that? they had a rough time in the press. i know if you have been paying attention since the financial disaster. a company it has always been a gold standard. they have also been the whipping boy. anyone give you our time? >> i think they have all lot of support for financial students. a lot of fun. we're proud of this.

melissa: what do you think the biggest mistake that investors are making? >> ultimately one of the things that people keep calling for is pullback. i think with the federal reserve seemingly willing to continue to provide liquidity and with janet yelling seeming to be back in the same policies, eventually will have to have a correction. >> monetize holdings. a lot of companies are looking to do so right now. a lot of investors did to make sure that whenever expectations they have the company as well which is why you are seeing a lot of investors going active on companies in going out and after stocks. we will be interesting to see how the retail investors also played against these big institutional investors. the companies themselves.

melissa: thank you so much. congratulations on your record. best of luck to you. but when faugh. melissa: was aware of the billionaires are? and the study says that america is the billionaire capitol of the world. you will tell you when they are and the surprising things that they have in common. you can never have to modify. ♪

♪ melissa: it is time for a little more than "spare change." it means, america. the world's billionaire capital.

in the first eddy of its kind, they teamed up to locate those lucky dogs with billions in the bank. do not believe which states they like best. president david friedman joins me now in a fox business exclusive. a lot of very surprising things in the study. more millionaires than ever before. 2,170 billionaires' in the world. the majority are in the u.s. >> that is correct. the other interesting thing is that since 2009 and the financial crisis there has been 810 billion as created, and their wealth has doubled. so this is good news, especially in terms of real estate. there is more wealth than ever before in history. melissa: the top ten countries with billionaires', the u.s. has 515. janet came in second. not that surprising. germany, 148. ahead of russia.

>> had a surprising. the financial-services was one, the second was industrial conglomerate spirit you see a lot of those in germany. melissa: russia, india, hong kong, france with the head of saudi arabia. have is that possible? old money, a population think? i guess technically they are tied. >> there are close, but they're is a lot more per capita. the population thing. another interesting. american millionaire estimates 60 percent made their own fortunes. only 22 percent inherited the money. that explodes one of the biggest myths out there which is that that kind of wealth, serious wealth, billions is inherited, 70 percent. >> the american dream is alive and well. entrepreneurs to themselves an anchor renee

created it. that is the exciting part of that data. melissa: looking at how they are placed around the u.s. coming back to the u.s., 96 -- the united states has 515, 96 of them are in new york, 22 in los angeles with 20 in san francisco , 14 in houston. is any of the surprising. >> is not surprising. obviously york. melissa: tax policy. , a billionaire the last melissa one of the is the york and california. the people that made the money would go to florida and texas. >> you would think the law but it has not happened. what you see is people in new york, hedge fund managers and silicon valley entrepreneurs, they stay there. they don't flee to other countries are states. melissa: and that was one of the things, when you're trying to break down what is common among

billionaires'. they tended to stay where they draw upon return to the city. >> the data shows a 75% stake in the country there were born. 40 percent stake in a state can and 25% stake in the city. you can imagine the trajectory of their life, they come home. melissa: who is moving upper. >> we're predicting in about five years even if today we have three times. melissa: 80% went to college even. 20 percent did not. >> we all know the stories. melissa: finish college and who. >> the strife. a n.

melissa: the most surprising thing. >> the fact that in terms of cities, you would think the york most people would guess london who've, but the fact that hong kong was next was a session with surprising. in an n moscow when. melissa: who do these things because they are fascinating hidden. it changes in business strategy. >> -en pierson of st. the cases where for mahound's and they tend to spend the 137.

melissa: in their lifetime? hidden. >> on average and who. melissa: thank you so much. up next, i make a five today. his the last laugh. a hotel you with his right after this. [ male announcer ] in your lifetime,

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♪ melissa: whether it's on wall street and main street, here is to make "money" today, everyone that owes twitter. having a great run so far. so if you have not got nanette, you may still want to. shares rallied and closed a 5% today. investors are loving it. making money hand over fist. he owns 22 million shares of twitter. so he racks up another $45 million award. unbelievably.

making billboard money, m&m released his new album marshall mathers lp2 and is at the top of the billboard chart, the second-biggest debut of the year. the album sold 790,000 copies in the first week. the only element sold more, justin timber lakes 2020 experience. of selling the next 31 tiles on the billboard charts combined. and hoping to make big money on lingerie, victoria's secret showed off its newest design. it will set you back a cool 10 million. this year's world fantasy barack comes with the $2 million belts, of course, and it is made it 18 karat gold, a dog with 90 -- 4200 jim's. melissa: the perfect gift for the woman who has everything. that's all we've got. i hope you make the effective date.

be sure to tune in tomorrow. should you or shouldn't you. 73 percent say is the best place to find your mate. that is tomorrow at 5:00 p.m. you definitely don't want to miss that. in the meantime, "the willis report" is coming up next. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" president obama who throws the health care system into chaos offering a fixed to3 president obama who throws the health care system into chaos offering a fixed to the canceled plans that creates more confusion, not clarity. >> this fix will solve every problem for every person. gerri: also, the next head of the reserve chair in the hot seat. how long will janet yellen keep interest rates near record lows been wrote wahoo. >> i believe the benefits exceed the cost. gerri: and are you -- our users guide to shopping. we're watching out for you tonight on "the willis report." ♪